For the past few weeks, there have been leaks, warning and trial balloons regarding a change of policy from the Bank of Japan. The change came last night but the shift so far was subtle...from NIRP to ZIRP. As such, the yen has weakened and the POSX is higher.
I guess the only conclusion is that the steps taken by the BoJ weren't "hawkish enough". How else do you explain this reaction?...
